When calculating the Adjusted Cost Base for the sale of a rental property, is there a list of all potential items that could be included? Thanks.

According to the Canada Revenue Agency (CRA), there is indeed a list of all potential items for calculating the Adjusted Cost Base. The definition of the Adjusted Cost Base (or ACB) is as follows: The ACB is the cost of a property + any expenses to acquire it, such as commissions and legal fees. The ACB can also include capital expenditures to the property, like: Cost of additions and improvements to the property. Note: You cannot add current expenses like maintenance or repairs to the ACB.

Special rules can apply that will allow you to consider the cost of property to be an amount other than its actual cost. These rules apply to the following property:

* Identical Properties (Like units of a fund or shares in a corporation)

* Property for which you filed Form T664

* Property you inherit or receive as a gift

For more information please see our TurboTax articles below

Calculating Adjusted Cost Base

How to Calculate a Capital Gain or Loss

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